FRANK BROWN, ESQUIRE, GOVERNOR.

373

Railway Company, a corporation incorporated under the act

Amend-

of eighteen hundred and seventy-six chapter two hundred

ment

add forty -two, entitled an act to provide for the creation

and regulation of incorporated companies in the State of

Maryland be and the same is hereby amended as follows :

The Baltimore Union Passenger Railway Company is

authorized and empowered to consolidate with any passen-

ger railway company incorporated under any general or

special act, and such passenger railway company, corporation

May con-

or corporations, is and are authorized to consolidate with

solidate

said Baltimore Union Passenger Railway Company upon

such terms and conditions as may be agreed upon by a ma-

jority of the stockholders of each company, and all the rights,

privileges and franchises of each company shall be vested

in such consolidated corporation, sucn consolidated com-

pany shall also be authorized to consolidate with other pas-

senger railway companies from time to time, and such other

passenger railway companies are hereby authorized to con-

solidate with it upon terms that may be agreed upon by a

majority of the stockholders of each of sucli companies, and

the consolidated company so formed shall be vested with all

the rights and privileges of each of the constituent compa-

nies. A copy of such agreement of consolidation certified

under the seals of the respective companies, and filed with

the Secretary of State, shall be evidence of such consolida-

tion, and of the existence of the consolidated corporation so

formed. Any consolidated company or corporation created

as provided by this act, shall be authorized to issue its

capital stock, or any increase thereof, in payment upon

contracts for the construction or equipment of its rail-

roads, or in payment for work done or material furnished,

upon such terms as may be agreed upon between the

company and such contractor or person doing work

or furnishing materials ; and it shall be lawful to

provide by agreement approved by a majority of the

stockholders at a general meeting of said company, and

recorded among the land records of Baltimore City, that the

stock so issued in payment, or any part thereof, shall have

such preference or priority over the rest of the capital stock

of the company, or other subsequent mortgages, encum-

brances, or both, as the stockholders at said meeting may

authorize, and such consolidated corporation shall be em-

powered to borrow, from time to time, such sums of money

as may be necessary to construct, improve, equip and operate

its railroads ; to issue bonds therefor in such amount and

dispose of the same on such terms as its directors may de-

termine ; and to mortgage its property, revenues and fran-

chises, or any part thereof, to secure the payment of any